PKO Investment Management Joint Stock Co Sells 5,000 Shares of Fortinet, Inc. $FTNT

PKO Investment Management Joint Stock Co decreased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 18.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,000 shares of the software maker’s stock after selling 5,000 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in Fortinet were worth $1,798,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Fortinet in the 4th quarter valued at approximately $1,152,917,000. Van ECK Associates Corp increased its holdings in shares of Fortinet by 38.9% during the fourth quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock worth $613,915,000 after buying an additional 2,166,396 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Fortinet by 30.9% during the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after buying an additional 1,790,033 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Fortinet by 76.2% in the 4th quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock valued at $326,297,000 after acquiring an additional 1,777,115 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after acquiring an additional 1,568,337 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company restated an “underweight” rating and set a $70.00 price objective (up from $64.00) on shares of Fortinet in a research report on Thursday, May 7th. Bank of America increased their target price on Fortinet from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Truist Financial set a $120.00 price target on Fortinet and gave the stock a “buy” rating in a report on Thursday, May 7th. BTIG Research upped their price objective on Fortinet from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Finally, Compass Point set a $100.00 price objective on shares of Fortinet in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $107.77.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $145.39 on Tuesday. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $150.07. The firm has a fifty day simple moving average of $117.41 and a 200 day simple moving average of $93.89. The company has a market capitalization of $106.52 billion, a PE ratio of 56.14, a P/E/G ratio of 3.96 and a beta of 1.11. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. On average, sell-side analysts forecast that Fortinet, Inc. will post 2.78 EPS for the current year.

Insider Activity

In related news, COO John Whittle sold 146,015 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer owned 94,724 shares in the company, valued at $12,163,508.84. This represents a 60.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. This represents a 0.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 318,387 shares of company stock valued at $43,403,063 in the last ninety days. 17.60% of the stock is owned by company insiders.

Fortinet Company Profile

Fortinet, Inc (NASDAQ: FTNT) is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co?founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia?Pacific.

Fortinet’s product portfolio centers on network security appliances and software, with its FortiGate next?generation firewalls and the FortiOS operating system forming a core platform.